Darling Ingredients Inc. (NYSE:DAR) Q3 2024 Earnings Conference Call October 24, 2024 9:00 AM ET

Company Participants

Suann Guthrie - Senior Vice President of Investor Relations, Sustainability and Global Communications
Randall Stuewe - Chairman and Chief Executive Officer
Brad Phillips - Executive Vice President and Chief Financial Officer
Robert Day - Executive Vice President and Chief Strategy Officer
Matt Jansen - Chief Operating Officer of North America

Conference Call Participants

Thomas Palmer - Citi
Paul Cheng - Scotiabank
Dushyant Ailani - Jefferies
Heather Jones - Heather Jones Research
Manav Gupta - UBS
John Royall - JPMorgan
Andrew Strelzik - BMO
Matthew Blair - Tudor, Pickering, Holt
Ryan Todd - Simmons Energy
Ben Kallo - Baird
Jason Gabelman - TD Cohen

Operator

Good morning, and welcome to the Darling Ingredients Inc. Conference Call to discuss the Company's Third Quarter 2024 Financial Results. After the speakers' prepared remarks, there will be a question-and-answer session period, and instructions to ask a question will be given at that time. Today's call is being recorded.

I would now like to turn the call over to Miss. Suann Guthrie. Please go ahead.

Suann Guthrie

Hi. Thank you for joining the Darling Ingredients third quarter 2024 earnings call. Here with me today are Mr. Randall C. Stuewe, Chairman and Chief Executive Officer; Mr. Brad Phillips, Chief Financial Officer; Mr. Bob Day, Chief Strategy Officer; and Mr. Matt Jansen, Chief Operating Officer of North America.

Our third quarter 2024 earnings news release and slide presentation are available on the Investor page under the Events and Presentations tab on our corporate website and will be joined by a transcript of this call once it is available.

During this call, we will be making forward-looking statements, which are predictions, projections or other statements about future events. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could materially differ because of factors discussed in today's press release and the comments made during this conference call and in the risk factors section of our Form 10-K, 10-Q and other reported filings with the Securities and Exchange Commission. We do not undertake any duty to update any forward-looking statements.

Now, I will hand the call over to Randy.

Randall Stuewe

Thanks, Suann. Good morning, everyone, and thanks for joining us. During the third quarter, Darling Ingredients continue to navigate challenging markets with global ingredient demand and pricing remaining sluggish and a difficult renewable diesel market. Despite these headwinds, our core ingredients performance was flat sequentially but generated adequate cash and dividends from Diamond Green Diesel, allowing us to reduce debt by about $192 million.